Wells Fargo & Company Upgrades Celldex Therapeutics (NASDAQ:CLDX) to “Strong-Buy”

Celldex Therapeutics (NASDAQ:CLDX) was upgraded by equities researchers at Wells Fargo & Company from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks.com reports.

Several other equities analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $80.00 target price on shares of Celldex Therapeutics in a research note on Thursday. Wolfe Research reaffirmed an “outperform” rating and set a $51.00 target price on shares of Celldex Therapeutics in a research note on Wednesday. Stifel Nicolaus started coverage on shares of Celldex Therapeutics in a research note on Tuesday, June 18th. They set a “buy” rating and a $58.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $67.00 target price on shares of Celldex Therapeutics in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $63.83.

Celldex Therapeutics Price Performance

Shares of CLDX stock opened at $33.20 on Thursday. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -11.61 and a beta of 1.56. Celldex Therapeutics has a one year low of $22.11 and a one year high of $53.18. The company’s fifty day moving average price is $38.42 and its 200-day moving average price is $38.43.

Celldex Therapeutics (NASDAQ:CLDX) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.05. The firm had revenue of $2.50 million for the quarter, compared to the consensus estimate of $1.13 million. Celldex Therapeutics had a negative net margin of 1,809.18% and a negative return on equity of 23.66%. Equities research analysts expect that Celldex Therapeutics will post -2.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Celldex Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CLDX. Price T Rowe Associates Inc. MD grew its stake in shares of Celldex Therapeutics by 631.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,087,208 shares of the biopharmaceutical company’s stock worth $129,571,000 after buying an additional 2,664,915 shares in the last quarter. Eventide Asset Management LLC grew its stake in shares of Celldex Therapeutics by 126.9% in the 4th quarter. Eventide Asset Management LLC now owns 3,630,013 shares of the biopharmaceutical company’s stock worth $143,966,000 after buying an additional 2,030,013 shares in the last quarter. Point72 Asset Management L.P. grew its stake in shares of Celldex Therapeutics by 105.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,756,122 shares of the biopharmaceutical company’s stock worth $109,308,000 after buying an additional 1,413,722 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Celldex Therapeutics by 19.2% in the 4th quarter. Wellington Management Group LLP now owns 6,476,561 shares of the biopharmaceutical company’s stock worth $256,860,000 after buying an additional 1,044,728 shares in the last quarter. Finally, Novo Holdings A S purchased a new position in shares of Celldex Therapeutics in the 2nd quarter worth $31,458,000.

Celldex Therapeutics Company Profile

Celldex Therapeutics, Inc, a biopharmaceutical company, engages in developing therapeutic monoclonal and bispecific antibodies for the treatment of various diseases. Its drug candidates include antibody-based therapeutics to treat patients with inflammatory, allergic, autoimmune, and other devastating diseases.